Incredible investment opportunity in historic downtown Melrose! This is your chance to own and restore *Oakhurst*, a 3-story Victorian masterpiece built in 1885. Boasting 3 bedrooms, 3 bathrooms, and 3,009 square feet of authentic craftsmanship, this home is a true testament to the architectural grandeur of its time. Situated on 1.24 acres, the property features solid hardwood flooring, 10' ceilings, and classic period details including a double fireplace, beadboard accents, clawfoot tub, and vintage light fixtures. Relax on the charming front porch swing or enjoy the 2nd-story balcony with peaceful views. The spacious layout offers oversized bedrooms, formal and informal dining rooms, and a large open kitchen. The 2014 metal roof addition provides additional living space, while the 40x40 RV-sized metal building with two bays and roll-up doors offers ample storage or workspace. A partially restored and unfinished 20x30 outbuilding with HVAC could easily be transformed into an office, studio, or guest house. The fully fenced, gated yard with an in-ground swimming pool provides the perfect setting for family gatherings or relaxation. Located just a short commute to Gainesville and Palatka, *Oakhurst* has the potential to be the crown jewel of Melrose once more, with possibilities for Airbnb or other investment ventures. Melrose water and modern amenities are already in place. This home is a rare find with endless potential-make it yours today!